To find the minimum data value that is missing from the set, we can use the formula that relates the range of a set of data. The range is calculated as the difference between the maximum value and the minimum value:
\[ \text{Range} = \text{Maximum} - \text{Minimum} \]
From the problem, we know that the range is $31.50. Given the costs of the items, the maximum value is $32.12. We can denote the missing minimum value as \( x \). Therefore, we can set up the equation as follows:
\[ 31.50 = 32.12 - x \]
To solve for \( x \), we rearrange the equation:
\[ x = 32.12 - 31.50 = 0.62 \]
Thus, the minimum data value that is missing from the set is \( \boxed{0.62} \).